Canadian Dollar and Business Outlook: Loonie, crude oil retreat

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Published: November 16, 2023

WINNIPEG – The Canadian dollar took a step back on Thursday morning.

The loonie was at US$0.7280 or US$1=C$1.3736, lower than Wednesday’s close of US$0.7313 or US$1=C$1.3675.

The United States Dollar Index was down 0.07 of a point at 104.32.

Crude oil prices continued to be in decline on Thursday. Brent crude oil fell US$1.60 at US$79.58 per barrel. West Texas Intermediate (WTI) dropped US$1.64 at US$75.02/barrel.

The TSX/S&P Composite Index added 10.32 points at 20,068.21.

Gold jumped US$11.30 at US$1,975.60 per ounce.

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